This Dow stock could be a top hideout trade amid the tariff war, technical analyst says

The markets are feeling the heat from the latest trade war tit-for-tat. The major indexes have lost nearly 5% in May, and that could spell trouble for some of the big names reporting earnings this week.

Cisco, Alibaba, Nvidia and Tencent are just some of the companies that could be victimized by the trade tantrum, but while these tech names could be in for more selling, "Options Action" trader Carter Worth says there's somewhere else you can still hide out.

Walmart reports earnings before the bell on Thursday, and despite recent wild volatility in the markets, the stock has held up relatively well.

"While it doesn't have the stable quality of a Coke or a Pepsi, or a soap or cereal company, in many ways — because it traffics in those and because it's a grocery store – it is very low risk," Worth said Friday on CNBC's "Options Action. "

Worth pointed out that Walmart has trailed the S&P 500 since the 2009 lows, but over the last year the story has started to change.

"Over the past 12 months, it's Walmart on top," said Worth, "and that's important, as equities have struggled over the last year and a half — we've basically made no progress over the last 15, 16 months — Walmart is making progress."

"So I think it's offensive and defensive. If the markets go higher, Walmart participates … and in the event of a great sell-off, Walmart — in basically every other instance — has held up very well."

Worth also thinks Walmart could be ready to break out even further to the upside, and he illustrated how the stock has entered a period of consolidation heading into this week's earnings report.

"There's a lot of tension here. We're working into the apex, and the presumption is there's a resolution. Of course, that's my bet, as we do have earnings coming up.

"Where could it go? At a minimum … if we put it to the prior high, that's $106.21, we're right at the bottom. I think, at minimum, we make that move of about $4 or $5 from here. With a little luck [we'll get some] backing and filling, and then a real breakout."